Increase the opportunities for safe, decent, energy efficient, affordable, accessible and fair housing for all types of households in all neighborhoods.
County-wide Rental Apartment Vacancy Rate
Current Value
0.60%
Definition
Comparison
Story Behind the Curve
Chittenden County is below a healthy rental vacancy rate. The long-term market vacancy rate in Chittenden County is 1.8%. While the rate hit 3% in 2015 and 2016; it has been below that for the last 4 years. It increases slightly with higher new construction, but those new apartments are absorbed quickly. This indicates that there is still too little supply. Housing experts target a 3 to 5% rate to yield a healthy market for renters and owners alike.
Why Is This Important?
In general, a healthy rental market should have a vacancy rate between 3% and 5%.
Partners
Clear Impact Suite is an easy-to-use, web-based software platform that helps your staff collaborate with external stakeholders and community partners by utilizing the combination of data collection, performance reporting, and program planning.